Legal Question in Business Law in California

You gave somebody $20,000? Did you have a lawyer look at the contract before you wrote the $20,000 check? Maybe you can still sue him. See a lawyer in your locality without delay.

This is an opportunity for you to forward the signed agreement to two or three attorneys of your choice to have them give you a free 20 miute review of the written contract...then decide which attorney you like and believe in the most and take the next step to get you the money back...questions?

By Grace...

Shawn Jackson ESQ. (707) 584-4529

Business Development Attorney

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It sounds like you may have a case. Please send me a description of what happened by email with dates and dollar amounts.

Best,

Daniel Bakondi, Esq.

[email protected]

415-450-0424

The Law Office of Daniel Bakondi, APLC

870 Market Street, Suite 1161

San Francisco CA 94102

http://www.danielbakondi.com

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The first issue a lawyer representing you would need to address is whether you became a partner or a lender. Very different law would apply, and very different remedies might be available.

If you became a partner, your lawyer should then sue to have a court confirm that fact, and for an accounting for the value of your partnership interest and its payment to you as a withdrawing partner. This is provided for by statute under the Revised Uniform Partnership Act, a part of California's Corporations Code.

If the agreement is construed as a loan of money rather than a partnership agreement, which it may be since it may call for repayment of fiexed amounts rather than a sharing of the business' actual profits and losses, a court would have to figure out any unspecified terms and give you a judgment for payment of anything that's past due.

This is an oversimplified explanation, but the point is that step one is to determine whether you are a creditor or a co-owner, or perhaps both, under the agreement.